Code of Business Principles

1. Introduction

Wesmo has earned a reputation for conducting its business with integrity and with respect
for the interests of those our activities can affect. This reputation is an asset, just as real as
our people and products.

Our first priority is to be a successful business and that means investing for growth and
balancing short term and long term interests. It also means caring about our customers,
employees and shareholders, our business partners and the world in which we live.
To succeed requires the highest standards of behaviour from all of us. The general principles
contained in this Code set out those standards. More detailed guidance tailored to the
needs of different countries and companies will build on these principles as appropriate,
but will not include any standards less rigorous than those contained in this Code. We want
this Code to be more than a collection of high sounding statements. It must have practical
value in our day to day business and each one of us must follow these principles in the spirit
as well as the letter.

2. Code of Business Principles

2.1 Standard of Conduct

We conduct our operations with honesty, integrity and openness, and with respect for the
human rights and interests of our employees. We shall similarly respect the legitimate
interests of those with whom we have relationships.

2.2 Obeying the Law

Wesmo companie and employees are required to comply with the laws and regulations of
P.R. China, HongKong and the countries in which we supply our products.

2.3 Employees

Wesmo is committed to diversity in a working environment where there is mutual trust and
respect and where everyone feels responsible for the performance and reputation of our
company. We will recruit, employ and promote employees on the sole basis of the
qualifications and abilities needed for the work to be performed. We are committed to safe
and healthy working conditions for all employees. We will not use any form of forced,
compulsory or child labour. We are committed to working with employees to develop and
enhance each individual’s skills and capabilities. We respect the dignity of the individual and
the right of employees to freedom of association. We will maintain good communications
with employees through company based information and consultation procedures.

2.4 Customers & Consumers

Wesmo is committed to providing products and services which consistently offer value in
terms of price and quality, and which are safe for their intended use. Products and services
will be accurately and properly labelled, advertised and communicated.

2.5 Shareholders

Wesmo will conduct its operations in accordance with internationally accepted principles of
good corporate governance. We will provide timely, regular and reliable information on our
activities, structure, financial situation and performance to all shareholders.

2.6 Business Partner

Wesmo is committed to establishing mutually beneficial relations with our suppliers,
customers and all kind of business partners. In our business dealings we expect our partners
to adhere to business principles consistent with our own.

2.7 Community Involvement

Wesmo strives to be a trusted corporate citizen and, as an integral part of society, to fulfil
our responsibilities to the societies and communities in which we operate.

2.8 Public Activities

Wesmo companies are encouraged to promote and defend their legitimate business
interests. Wesmo will co-operate with governments and other organisations, both directly
and through bodies such as trade associations, in the development of proposed legislation
and other regulations which may affect legitimate business interests. Wesmo neither
supports political parties nor contributes to the funds of groups whose activities are
calculated to promote party interests.

2.9 The Environment

Wesmo is committed to making continuous improvements in the management of our
environmental impact and to the longer-term goal of developing a sustainable business.
Wesmo will work in partnership with others to promote environmental care, increase
understanding of environmental issues and disseminate good practice.

2.10 Innovation

In our scientific innovation to meet consumer needs we will respect the concerns of our
consumers and of society. We will work on the basis of sound science, applying rigorous
standards of product safety.

2.11 Competition

Wesmo believes in vigorous yet fair competition and supports the development of
appropriate competition laws. Wesmo companies and employees will conduct their
operations in accordance with the principles of fair competition and all applicable
regulations.

2.12 Business Integrity

Wesmo does not give or receive, whether directly or indirectly, bribes or other improper
advantages for business or financial gain. No employee may offer, give or receive any gift or
payment which is, or may be construed as being, a bribe. Any demand for, or offer of, a bribe
must be rejected immediately and reported to the management. Wesmo’s accounting records
and supporting documents must accurately describe and reflect the nature of the underlying
transactions. No undisclosed or unrecorded account, fund or asset will be established or
maintained.

2.13 Conflicts of Interests

All Wesmo employees are expected to avoid personal activities and financial interests which
could conflict with their responsibilities to the company. Wesmo employees must not seek
gain for themselves or others through misuse of their positions.

2.14 Compliance - Monitoring - Reporting

Compliance with these principles is an essential element in our business success. Wesmo’s
Executive Board is responsible for ensuring these principles are applied throughout Wesmo.
Wesmo’s Chief Executive Officer is responsible for implementing these principles and is
supported in this by the other Executives members and Wesmo’s Staff.

2.15 Controller’s Risk and Control Report.

Day to day responsibility is delegated to Wesmo’s Senior Managers. They are responsible for
for implementing these principles, if necessary through more detailed guidance tailored to
local needs, and are supported in this by representatives from all relevant functions and
departments.

Assurance of compliance is given and monitored each year. Compliance with the Code is
subject to review by Wesmo’s Executive Board supported by Human Resource Department
and Financial Audit Committee (External Accountancy).
Any breaches of the Code must be reported. Wesmo’s Executive Board will not criticise
management for any loss of business resulting from adherence to these principles and other
mandatory policies and instructions. The Executive Board of Wesmo expects employees to
bring to their attention, or to that of senior management, any breach or suspected breach of
these principles. Provision has been made for employees to be able to report in confidence
and no employee will suffer as a consequence of doing so.

In this Code the expressions ‘Wesmo’ is used for convenience and mean Wesmo Industries Ltd.
and its respective subsidiary companies. The Executive Board of Wesmo means the
President & Chief Executive Officer and the Managing Director of Wesmo Industries Ltd. and
its respective subsidiary companies.